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We have presented documents to confirming bank on behalf of our client.

One of the document's submitted was an insurance document.

Insurance document was issued on 3rd of Jun 2014 and also states:
"On basis of the Antwerp Cargo Insurance Policy of April 20th, 2004 as well as on basis of the annexed printed and/or typed specific stipulations, the undersigned Underwriters agree to insure, without any interruption of risks, the interests in the manner and the proportions hereafter provided.

Date of departure 23 may 2014

conveyance vessel xxxxxxxx

voyage from xxxx port (pot of loading) to yyyy port (port of destination)"


Confirming bank states that document is discrepant as it was issued after date of shipment.

We have responded to their discrepancy message that:
SUBMITTED INSURANCE CERTIFICATE
STATES
''THE UNDERSIGNED UNDERWRITERS
AGREE TO INSURE, WITHOUT ANY
INTERRUPTION OF RISKS, THE
INTERESTS IN THE MANNER AND THE
PROPORTIONS HEREAFTER PROVIDED.''
DATE OF DEPARTURE CONVEYANCE AND
VOYAGE ARE CLEARLY MARKED
UNDERNEATH THE QUOTED SENTENCE.
THEREFORE THIS DOCUMENT MEETS THE
REQUIREMENTS OF UCP 600 ARTICLE
28E IN THAT THE INSURANCE DOCUMENT
CLEARLY SHOWS THAT THE COVER IS
EFFECTIVE FROM A DATE NOT LATER
THAN THE DATE OF SHIPMENT.
Any thoughts? Is this a valid discrepancy or not?

Finance

Hi Pal,

IMHO, Issuing bank is right, the certificate had to indicate "insurance effective from...
Other comments appreciated
Ciao

Hi Picant,

UCP 600. Article 28.e
The date of the insurance document must be no later than the date of shipment, unless it appears from the insurance document that the cover is effective from a date not later than the date of shipment.

I believe that we have filled that requirement. I couldn't find any specific requirement that the certificate state "insurance effective from"

Finance

Hi Pal
I had the same problem, I asked Mr Collyer this is the answer:

Does reference to the shipped date provide evidence of an effective date of insurance?
Question raised: 24/04/2014 Certificate of Insurance dated April 04, 2014 states:
"The undersigned company [INSURANCE CO:] certifies to have insured on April 04, 2014 under policy no.... decl no 04 to the firm [Italian company] .... for the voyage from Dar Es Salam to Livorno by MV Amber voy. 003, shipped on March 23, 2014 the underdescribed goods for the sum .....".

Do you think that the sentence "shipped on March 23" is sufficent to render the insurance effective?
The reference to 'shipped on March 23, 2014' is not sufficient evidence of an effective date of insurance. In any event, the insurance document is stating that the insurance company has insured the goods on 4 April 2014.

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Opinions are opinions, maybe my case is not 100% as yours and may be some other experts disagree.
Other comments appreciated
Ciao